Shares of Hero MotoCorp rose over 3 per cent today after its unit Hero FinCorp raised Rs 1,002 crore from private equity firms and also from its parent Hero Group to fuel expansion over the next 12-18 months.

The stock gained 3.3 per cent to Rs 3,639 on the BSE.

On the NSE, shares of the company jumped 3.39 per cent to Rs 3,643.

Hero FinCorp had yesterday raised Rs 1,002 crore from private equity firms ChrysCapital, Credit Suisse and also from its parent Hero Group to fuel expansion over the next 12-18 months.

ChrysCapital has invested Rs 570 crore, Hero Group made an additional investment of Rs 300 crore and Credit Suisse of another Rs 132 crore.

Post investment, ChrysCapital will have 11 per cent stake in Hero FinCorp, while Credit Suisse will hold around 2.5 per cent stake in NBFC.

Hero MotoCorp and Munjal family have a combined holding of 79 per cent in Hero Fin Corp. Hero MotoCorp alone has a stake of 41 per cent in the NBFC firm.

Oil refiners

Shares of state-run oil refiners rose on hike in petrol prices.

Bharat Petroleum Corp gained as much as 1.4 per cent, Hindustan Petroleum Corp rose as much as 1.3 per cent, and Indian Oil Corp climbed as much as 0.92 per cent.

Petrol prices in Delhi were raised to 64.21 rupees/litre from 63.47 rupees/litre, while prices in Mumbai were hiked to 69.13 rupees/litre from 68.40 rupees/litre, IOC had said in a statement on Thursday.

comment COMMENT NOW